Monday, January 9, 2012

How to Start a Continuing-Education Business

By Maggie Gebremichael, eHow Contributor 

Design a continuing-education class based on an ideal time frame (e.g., one-hour weekly courses or intense two-hour summer classes). You might select a textbook or gather helpful documents and bind them for your students (make decent profit margins by selling the bound text for $5; your costs will usually run less than $1 per bound book)
Develop a business plan and include estimates (monthly and annually) for revenues and expenses, even if you don't need financing. You must grasp all costs so that you can price the class appropriately (e.g., $10 per student, per creative drawing class). If you hold a class at a recreation center, expect the center to take a percentage of the student fees (the fees from 10 students may equal 1,000, but you as the teacher might only earn $650).

Create a valid consent form, but also purchase professional liability insurance. Insurance will protect you if a student gets hurt and sues the business. If you operate as a sole proprietorship, your personal assets are at risk. You also could register as a corporation or limited liability companyApproach local businesses and organizations about your class. For example, if you can teach students about science projects, you might contact local Girl Scouts groups, elementary after-school programs and homeschooling communities. Create a continuing medical or legal education course (e.g., "Medical Spanish Terms," "Spanish Cultural Practices") if your business specializes in teaching Spanish.

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